In a strategic move to bolster its technology apprenticeship programs, Multiverse, a renowned U.K.-based educational unicorn, has announced its acquisition of Searchlight, a cutting-edge recruitment platform powered by artificial intelligence. This acquisition marks a significant step for Multiverse as it seeks to expand its professional training services by leveraging Searchlight‘s innovative AI technology.
Multiverse’s founder and CEO, Euan Blair, expressed enthusiasm about the acquisition, highlighting the synergy between Multiverse’s extensive learning ecosystem and Searchlight’s technological prowess. “Searchlight’s AI, platform, and exceptional talent will empower us to more accurately identify the skill gaps within organizations and offer impactful solutions,” Blair stated. By integrating Searchlight’s technology and team, Multiverse aims to extend its reach, benefiting an even broader spectrum of companies and individuals.
Searchlight, co-founded by twin sisters Kerry and Anna Wang, has distinguished itself through its AI-based approach to talent sourcing. The platform has served a variety of tech companies, including Udemy, Zapier, and Talkdesk, by streamlining the recruitment process and enhancing access to economic opportunities. Following the acquisition, Multiverse plans to wind down Searchlight’s recruitment services, focusing instead on developing AI-driven products for professional training.
This acquisition underscores the growing influence of AI in the professional world, especially in the realms of work and education. While some view AI as a tool for efficiency, others see it as a disruptive force. Multiverse’s acquisition of Searchlight addresses a critical third perspective: using AI to develop more effective professional training services to bridge recruitment gaps.
Historically, the intersection of AI and recruitment has faced challenges, notably around bias and fairness. However, advancements in technology and greater awareness of these issues have paved the way for more equitable solutions. Searchlight’s CEO, Kerry Wang, shared with TechCrunch the efficacy of their AI model, which significantly outperforms traditional recruitment methods in matching candidates to roles. “Our AI model can identify a good match for a role four times better than a traditional interview,” Wang stated, emphasizing the platform’s commitment to equitable access to opportunities.
Following the acquisition, Kerry Wang will join Multiverse as the Director of Product, and Anna Wang will serve as the Head of AI, bringing their expertise to further Multiverse’s mission. Multiverse, initially celebrated for advocating apprenticeships as an alternative career path in technology, has evolved to offer professional training for the employed. Currently, the company provides an AI-based personal assistant coach among other services and plans to introduce more technological innovations to enhance its platform.
Multiverse and Searchlight: A Strategic Overview
| Feature | Multiverse | Searchlight |
|---|---|---|
| Foundation | Apprenticeship and professional training services | AI-driven recruitment platform |
| Technology | AI assistant coach, plans for expansion | AI-based talent sourcing |
| Key Personnel | Euan Blair (CEO), Ujjwal Singh (CTO & CPO) | Kerry Wang (CEO), Anna Wang (CTO) |
| Customer Base | 1,000 customers including Cisco and government organizations | Tech companies like Udemy, Zapier, Talkdesk |
| Future Direction | Expand AI-based services and professional training | Integration into Multiverse’s product offering |
Key Points of the Acquisition:
- Multiverse aims to leverage Searchlight’s AI technology to advance its apprenticeship and professional training services.
- The acquisition aligns with the growing trend of integrating AI into educational services to address skill gaps and recruitment challenges.
- Searchlight’s co-founders, Kerry and Anna Wang, will assume leadership roles within Multiverse, bringing their AI expertise to the table.
- The deal reflects the potential of AI to make recruitment and professional training more efficient and equitable.
- Financial terms were not disclosed, but the acquisition is seen as a positive outcome for both companies and their investors.
Founded by Euan Blair, son of former U.K. Prime Minister Tony Blair, Multiverse has made significant strides since its inception. With around 1,000 customers, including notable names like Cisco and various government organizations, the company has firmly established itself as a leader in professional training and apprenticeship solutions. This acquisition is Multiverse’s second, following its purchase of Eduflow, another Y Combinator company, last year. Multiverse was valued at $1.7 billion in 2022, reflecting its strong market position and growth potential.
Investors have expressed optimism about the acquisition’s potential to enhance Multiverse’s offerings. Keith Rabois, who led Searchlight’s Series A funding round, praised the strategic alignment of the two companies. “From the start, Anna and Kerry have been thoughtful about building Searchlight’s AI models to complement their vision,” Rabois remarked. “Searchlight’s differentiated technology is a magnet for innovative companies like Multiverse. I am excited by the upside of this acquisition for Searchlight and Multiverse.”
This acquisition not only highlights the pivotal role of AI in transforming education and work but also sets a precedent for how technology can be harnessed to foster growth and innovation in the professional training sector. As Multiverse integrates Searchlight’s technology into its platform, the educational landscape stands on the brink of a new era, characterized by enhanced efficiency, accessibility, and inclusivity.
Related News:
Featured Image courtesy of DALL-E by ChatGPT